Court Confirms Almaden’s Original Ixtaca Claim Block
December 01 2020 - 4:30PM
Almaden Minerals Ltd. (“
Almaden” or the
“
Company”; TSX: AMM; NYSE American: AAU) announces
that, further to its press release of February 27, 2020, on
November 26, 2020, a Mexican court rejected the appeal filed by the
Company in October 2019 objecting to the reinstatement by the
Mexican mining authorities of approximately 7,000 Ha of mineral
claims surrounding the Ixtaca Project, which the Company had
previously dropped. This court decision upheld the action of
Mexican mining authorities that reinstated Almaden’s original
mineral claims covering the Ixtaca project as Almaden’s sole
mineral claims over the Ixtaca project, and leaving the reduced
mineral claims the Company was awarded in 2017 as held without
effect.
The Company is currently waiting to receive the
reasons for this judgement in order to plan next steps. In the
meantime, the original concessions provide Almaden with the same
exploration and mining rights over the Company’s Ixtaca project as
the reduced concessions would, with the exception that Almaden’s
mineral rights in the area are 7,000 Ha larger than they would
otherwise be. Almaden may not access the surface land of the Ejido
Tecoltemi (the “Ejido”) which constitutes 330
hectares at the extreme southeast edge of the original claim block
in an area which the Company had sought to drop from its reduced
mineral claims (the “Ejido Lands”). These claims
over the Ejido Lands are subject to the Amparo lawsuit as fully
described in the February 27, 2020 press release. The Ejido Lands
do not overlap the Ixtaca project or its environmental or social
area of impact. The Ejido Lands are in a different drainage basin
than the Ixtaca project and the Company does not need to travel
though the Ejido Lands to access the Ixtaca project.
As previously reported in the February 27, 2020
press release, the Company has initiated two administrative
challenges against the Mexican mining authorities for revoking the
Company’s lawfully reduced mineral claims. These challenges are
based in part on Mexican legal advice that the Company cannot be
forced to own mineral rights that it does not wish to own. Almaden
continues to file taxes and assessment reports on the reduced
concessions, which have been accepted by the Mexican mining
authorities, and Almaden has not received any notifications from
the Mexican mining authorities regarding taxes on the original
concessions.
J. Duane Poliquin, Chairman of Almaden, stated
“We were hoping to be able to reduce our mineral claims in order to
demonstrate that we have no interest in any mining or exploration
activity in the area of the Ejido Tecoltemi. However, the agents of
the Ejido have to date prevented us from doing so, in order to
allow them to continue with a case against the Government of
Mexico. This case is seeking to reform the current system of mining
concessions by provoking third-party litigation involving mineral
titles legally granted to companies such as Almaden. While we
continue to study and understand the reasons for this judgement, we
are also working to advance the project through ongoing permitting
and exploration efforts.”
Further background on this matter is available
in the Company’s February 27, 2020 press release.
About AlmadenAlmaden Minerals
Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico,
subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The
Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors
“Morgan
Poliquin” Morgan
J. Poliquin, Ph.D., P.Eng.President, CEO and DirectorAlmaden
Minerals Ltd.
Forward Looking Statements
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among
other things: the outcome of the Amparo proceedings; the outcome of
the challenge by the Company to the applicable Mexican Authorities’
position that the original concessions are active and owned by
Almaden and the reduced concessions awarded in 2017 are held
without effect; the outcome of the Company’s efforts to have
SEMARNAT continue its review of the MIA; and the prospects for
raising production financing and preparing for construction in
connection with the Ixtaca Project.
These forward-looking statements and information
reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions, including
assumptions in respect of both Almaden’s and the applicable Mexican
Authorities’ legal positions, that, while considered reasonable by
the Company, are inherently subject to significant legal,
regulatory, business, operational and economic uncertainties and
contingencies, and such uncertainty generally increases with
longer-term forecasts and outlook. These assumptions include:
stability and predictability in Mexico’s mineral tenure, mining,
environmental and agrarian laws and regulations, as well as their
application and judicial decisions thereon; continued respect for
the rule of law in Mexico; prices for gold, silver and base metals
remaining as estimated; currency exchange rates remaining as
estimated; availability of funds; capital, decommissioning and
reclamation estimates; mineral reserve and resource estimates;
prices for energy inputs, labour, materials, supplies and services
(including transportation); no labour-related disruptions; all
necessary permits, licenses and regulatory approvals being received
in a timely manner; the ability to secure and maintain title and
ownership to properties and the surface rights necessary for
operations; community support for the Ixtaca Project; and the
ability to comply with environmental, health and safety laws. The
foregoing list of assumptions is not exhaustive.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release. Such risks and other
factors include, among others, risks related to: political risk in
Mexico; crime and violence in Mexico; corruption; environmental
risks, including environmental matters under Mexican laws and
regulations; impact of environmental impact assessment requirements
on the Company’s planned exploration and development activities on
the Ixtaca Project; certainty of mineral title and the outcome of
litigation; community relations; governmental regulations and the
ability to obtain necessary licences and permits; risks related to
mineral properties being subject to prior unregistered agreements,
transfers or claims and other defects in title; changes in mining,
environmental or agrarian laws and regulations and changes in the
application of standards pursuant to existing laws and regulations
which may increase costs of doing business and restrict operations;
as well as those factors discussed the section entitled "Risk
Factors" in Almaden's Annual Information Form and Almaden's latest
Form 20-F on file with the United States Securities and Exchange
Commission in Washington, D.C. Although the Company has attempted
to identify important factors that could affect the Company and may
cause actual actions, events or results to differ materially from
those described in forward-looking statements or information, there
may be other factors that cause actions, events or results not to
be as anticipated, estimated or intended. There can be no assurance
that our forward-looking statements or information will prove to be
accurate. Accordingly, readers should not place undue reliance on
forward-looking statements or information. Except as required by
law, the Company does not assume any obligation to release publicly
any revisions to on forward-looking statements or information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information:
Almaden Minerals Ltd.Tel. 604.689.7644Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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